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Why the Bank Rate Will Stay Steady

December 6th, 2017
BCREA ECONOMICS NOW

Bank of Canada Interest Rate Announcement - December 6, 2017



The Bank of Canada maintained its target for the overnight rate at 1 per cent this morning. In the statement accompanying the decision, the Bank noted that the Canadian economy is evolving as expected, with growth slowing in the second half of the year.   On inflation, the Bank expects the continued absorption of e ...

BoC Rate Hike Next Week Unlikely

October 20th, 2017
BCREA ECONOMICS NOW

Canadian Retail Sales and Inflation - October 20, 2017

Canadian inflation, as measured by the Consumer Price Index (CPI), registered 1.6 per cent in the 12 months to September, up from 1.4 per cent in August.  The Bank of Canada's three measures of trend inflation were largely unchanged, averaging 1.6 per cent.   In BC, provincial consumer price inflation was 2.0 per cent in ...

Stress Tests Even For Conventional Mortgages Coming in 2018

October 17th, 2017
BCREA ECONOMICS NOW

OSFI Announcement of Change to Mortgage Underwriting - October 17, 2017

The Office of the Superintendent of Financial Institutions (OSFI) announced new restrictions on uninsured mortgages today. Effective January 1, 2018, all home-buyers with a down-payment of more than 20 per cent will have to qualify at the higher of the posted 5-year qualifying rate and their contractual ...

Surprise! BoC Jacks Up Prime.

September 6th, 2017
BCREA ECONOMICS NOW

Bank of Canada Interest Rate Decision - September 6, 2017

The Bank of Canada announced this morning that it is raising its target for the overnight rate by 25 basis points to 1 per cent. In the press release accompanying the decision, the Bank noted that recent economic data have been stronger than expected but growth is forecast to moderate in the second half of the year.  ...

2nd Q Growth Strengthens BoC Case For October Rate Hike

August 31st, 2017
BCREA ECONOMICS NOW

Canadian Economics Growth Q2'2017 - August 31, 2017

The Canadian economy posted a second consecutive quarter of stellar economic growth, with real GDP expanding by  an annualized 4.5 per cent in the second quarter of 2017.  That is the strongest rate of economic growth since the third quarter of 2011.  Quarterly real GDP growth has averaged a remarkable 3.7 per cent over the ...

Fall Interest Hike Likely, Low Inflation Mitigates More

July 30th, 2017

BCREA ECONOMICS NOW

Canadian Monthly Real GDP Growth (May) - July 28, 2017

The Canadian economy posted blockbuster growth in May, expanding 0.6 per cent on a monthly basis and 4.6 per cent year-over-year.  This was the seventh consecutive month of positive growth for the Canadian economy. Moreover, growth was broad based with output increasing in 14 of 20 industrial ...

Low Inflation Likely Mitigates Future Interest Hikes

July 21st, 2017

Canadian Retail Sales and Consumer Price Inflation - July 21, 2017

Canadian inflation, as measured by the Consumer Price Index (CPI), registered just 1 per cent in the 12 months to June. That is down from 1.3 per cent in May.   The Bank of Canada's new core measure of inflation, called CPI-common,  registered 1.4 per cent, a sight uptick from May.   In BC, provincial consumer price inf ...

First Interest Rate Hike in 7 Years Announced

July 12th, 2017

BCREA ECONOMICS NOW

 

Bank of Canada Interest Rate Decision - July 12, 2017

 

The Bank of Canada announced this morning that it is raising its target for the overnight rate by 25 basis points to 0.75 per cent. In the press release accompanying the decision, the Bank noted that Canada's economy has been robust and a significant amount of economic slack has been absorbed. Whi ...

No rise in the bank rate today, possibly not until 2018

April 12th, 2017

Bank of Canada Interest Rate Announcement - April 12, 2017

The Bank of Canada announced this morning that it is holding the target for its overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that economic growth has been faster than previously expected, boosted by what the Bank sees as temporary spending from the oil and gas recovery ...

Stronger Canadian Economy Could Mean Higher 2017 Mortgage Rates

March 2nd, 2017
BCREA ECONOMICS NOW

Canadian Real GDP Growth (Q4'2016) - March 2, 2017

The Canadian economy expanded at a 2.6 per cent annual rate in the fourth quarter, beating expectations of 2 per cent growth.  Economic growth continues to be led higher by strong household consumption spending, though an uptick in exports was also a significant contributor. Due to a slow start to the year and disruptions ca ...
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